Established the FDIC as a permanent agency of the government
Controls interest rates on loans
Passed in 1935
The success from the act insured people’s money.
AAA
Before, surplus in crops, lead to the price falling per bushel.
Life of farmers were bad financially
Started in 1933
Paid farmers to reduce farm area around 30%
After, farmers reduced production of crops, price rose.
In 1938, the second AAA replaced the first one because the first on use unconstitutional.
Huey Long criticized the new deal because they weren’t distributing the wealth
He wanted heavy tax on wealth and large handouts to the poor
He wanted no one to earn more than a million and no less than 4,000
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